Coins are important for a number of reasons, from their historical value to their metal properties. In almost all cases, however, the most valuable money is the rarest. Some rare coins have reached a certain level of fame because of their background.
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An example is the 1943 copper Lincoln penny, which was minted during the World War II copper shortage and is today worth about $1 million. But there are also lesser-known coins that can fetch a lot of money on the collectors’ market.
Most Lincoln pennies you wouldn’t think twice about if you found one in your loose change. Keep in mind that only coins in excellent condition will command high prices.
Here’s a look at four unknowns worth thousands of dollars.
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A double die flaw occurs when the metal on a coin is struck multiple times with a die or design stamp on the front (bad), reverse, or both sides. Double die mistakes in mint or near-mint condition often sell for high prices.
In the Small Date version of the 1970-S Small Date Lincoln Penny, the word “LIBERTY” is not indented or pronounced as in other versions, according to the Spruce Crafts website. It has an estimated cost of $3,500.
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This variety of Lincoln cents was produced from 1998-2000, with the 1999 being the rarest. As reported by Spruce Crafts, the US Mint has misused proof dies to create coins intended for circulation.
In the wide version, the “AM” in America is clearly separated, while in the standard examples the letters “AM” are very close together. Another version of the coin sold at auction for $394,000 in November 2020, according to the Professional Coin Grading Service (PCGS) website.
Here is another double-die bad Lincoln cent from the early 1970s that has found favor with collectors. The words “LIBERTY” and “IN GOD WE TRUST” on the front of the coin are “famous examples” of the doubling process, according to a blog from Freedom of Speech.
The value of this pen is mainly because there are not many examples with this doubling. At PCGS, the record for this coin took place in 2019 and fetched 14,400 dollars.
Spruce Crafts calls this amount “extremely low.” The US Secret Service seized the original images until the Mint “accepted that they were authentic.”